China's Huawei in Talks to Buy Marconi

From SiliconValley.com: Huawei in talks to buy British partner Marconi

"Huawei Technologies Co., China's biggest maker of telecommunications equipment, is considering buying Britain's Marconi Corp. PLC in the latest foreign takeover bid by a Chinese company, news reports said.
The deal could be worth 560 million British pounds, or $1 billion, the Sunday Times of London reported. The talks also were reported by the Financial Times, which said analysts don't believe Marconi can survive as an independent company."

"The company effectively put itself up for sale in May after losing out on a 10 billion pound ($5.7 billion) contract to build a new network for British Telecom, its biggest customer, according to the Financial Times. Huawei was one of eight companies selected by BT on the network contract, according to the Financial Times.

Marconi and Huawei signed a partnership deal in May under which the British firm will market Huawei's network technology in Europe while the Chinese company sells Marconi's wireless equipment in Asia, according to the Sunday Times."

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